GOL announces 1Q operating income of R$191.4m

GOL Linhas Aéreas Inteligentes has announced its results for the first quarter of 2010 (1Q10).

The airline’s operating income (EBIT) jumped by 82.1% year-over-year, to R$191.4 million from R$105.1 million in 1Q09, reflecting growing demand on the domestic and international markets. EBITDAR totalled R$405.0 million in 1Q10, up 12.7% on the R$359.3 million recorded in 1Q09.

Net income remained positive at R$23.9 million though this was down 62.1% from the net income of 61.4 million in 1Q09.

Higher aircraft utilisation in the quarter was the main driver to the RASK (revenue per ASK) and CASK (cost per ASK) spread expansion of 55.7% to 1.71 cents (R$), in 1Q10 when compared to the 1.10 cents (R$) posted in 1Q09.